The following is a summary of the Helios Technologies, Inc. (HLIO) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Helios Technologies reported Q1 2024 sales of $212 million, driven by stronger demand at Balboa business.

• Gross profit for the quarter was up 22% with a gross margin expansion of 310 basis points compared to Q4 2023 but contracted 160 points YoY to 31.7%.

• The company posted an adjusted operating margin of 14.5% and adjusted EBITDA of $38.6 million, down 210 basis points YoY.

• Diluted non-GAAP EPS for the quarter stood at $0.53.

• For 2024, sales are expected between $840 to $860 million, with an adjusted EBITDA between 19.5% to 21%, and diluted non-GAPP earnings per share forecasted between $2.35 to $2.75.

Business Progress:

• Helios Technologies confirmed guidance for 2024, reflecting improvements in all regions and expansions into the commercial food service space.

• A partnership with WaterGuru is targeted at enhancing water treatment solutions for various pools markets.

• Investments in capabilities and capacity expansion are intended to spur the volume and margin in the future.

• Financial forecasting and process improvements across all organizations are underway.

• For Q2 2024, sales foresight is between $213 to $218 million, with an adjusted EBITDA margin range of 19.0% to 20.5%.

• Volume growth and profitability rate expansion have been seen from operational improvements and disciplined cost management.

• Strategic investments in innovation, acquisitions, and regional capacity indicate positive growth signs for future market recovery.

More details: Helios Technologies IR

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